Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 1 is modified by the ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449; the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647; the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648; the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669; and the ASIC Corporations and Credit (Breach Reporting - Reportable Situations) Instrument 2021/716 (as amended by the ASIC Corporations and Credit (Amendment) Instrument 2023/589).
CCH Note: Section 910C is modified by the ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449; the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 2023/647; the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 2023/648; the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669; and the ASIC Corporations and Credit (Breach Reporting - Reportable Situations) Instrument 2021/716 (as amended by the ASIC Corporations and Credit (Amendment) Instrument 2023/589).
An entity is linked to a refusal or failure to give effect to a determination made by AFCA if:
(a) a complaint is made under the AFCA scheme; and
(b) AFCA makes a determination relating to the complaint; and
(c) AFCA becomes aware that a party to the complaint (the primary entity ) may have refused or failed to give effect to the determination; and
(d) AFCA gives particulars of the refusal or failure in accordance with subsection 1052E(1) ; and
(e) the first-mentioned entity is the primary entity or is covered by subsection (2) of this section.
910C(2)
This subsection covers an entity if, at any time during the period starting when AFCA makes the determination and ending when AFCA so gives the particulars, the entity is:
(a) an officer of the primary entity; or
(b) if the primary entity is an individual - substantially or significantly involved in the management of:
(i) a financial services business carried on by the primary entity; or
(ii) credit activities (within the meaning of the National Consumer Credit Protection Act 2009 ) engaged in by the primary entity; or
(c) if the primary entity is the multiple trustees of a trust - one of the trustees of the trust.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.